Due to weak cybersecurity and a lack of effective blockchain & bitcoin regulations, the cases of scam and sextortion are on a high increase in Italy. The cybercriminals have been claiming to be possessing special pictures, and videos containing pornographic contents.

There is no doubt that Italy is registering steady progress in the investment, adoption and use of cryptocurrencies like Bitcoin, Ethereum, etc., blockchain and distributed ledger technology, whether by the public, companies, financial institutions, businesses or others.

Last month, the Commissione Nazionale per la Societa e la Borsa (Consob), the government authority of Italy responsible for regulating the Italian securities market, released a document covering initial coin offerings and cryptocurrency exchange platforms in Italy. The authority engaged with all stakeholders such as savers, professionals, traders, promoters and others, with the aim of getting their point of view to be used in guiding the legislators especially in the present de iure condendo phase on the ICO.